America’s risky bet on hydrocarbons might hurt it in the AI race
US strategy could be costly in terms of higher electricity prices, increased water stress and potential food insecurity
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Year in a word: AI bubble
The high priests of Silicon Valley and Wall Street are beginning to acknowledge the excesses of Big Tech valuations
FirstFT: Japan official warns of ‘deep concern’ over the yen’s weakness
Also in today’s newsletter: Larry Ellison gives $40bn personal backing to WBD bid, and a Russian general is killed by a car bomb
Peltz’s Trian and General Catalyst lead $7.4bn deal for Janus Henderson
Asset manager’s investors will receive $49 a share in 18% premium over initial Trian overture in October
Gold and silver hit record highs on geopolitical tensions
US blockade on Venezuelan oil and bets on Fed rate cuts drive up prices of precious metals
North Sea operator Harbour buys Gulf of Mexico oil group for $3.2bn
Biggest deal yet for UK company as it seeks to expand internationally